Nigeria: Oil, Gas & Electricity

Nigeria’s electricity sector has remained the subject of persistent debate, reform efforts, and unfulfilled promises. Successive administrations since the 1990s have pledged comprehensive transformation of the industry. While some achieved limited structural reforms, many produced little beyond policy papers and committees. The consequence has been a power sector that continues to underperform, with Nigeria generating less electricity per capita than several of its African counterparts.

The Nigerian energy sector, particularly the oil and gas industry, is governed by a complex web of statutory, contractual, and institutional frameworks regulating the exploration, production, transportation, and commercialization of petroleum resources. Owing to the technical complexity of operations, the multiplicity of stakeholders, including the State, multinational oil companies, indigenous operators, regulators, and host communities, as well as the enormous economic interests involved, disputes are an inevitable feature of the sector.

Nigeria's 2025 Petroleum Licensing Round offers 50 blocks across the Niger Delta, deep offshore, and frontier basins, targeting USD 10 billion in investment under the Petroleum Industry Act. With nearly 300 applicants competing, the round represents the most ambitious upstream acreage release in Nigeria's post-PIA era, testing the country's reformed regulatory framework at unprecedented scale.